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Aura Minerals Completes Acquisition of Mineração Serra Grande Gold Mine
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Release time：2025-12-05
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Aura paid AngloGold Ashanti a prepaid cash consideration of US$72.8 million upon completion of the transaction.
Aura Minerals has completed its acquisition of the Mineração Serra Grande (MSG) gold mine in Crixás, Goiás, Brazil, from AngloGold Ashanti. The transaction was executed through Aura’s wholly owned subsidiary. At closing, Aura paid AngloGold Ashanti a prepaid cash consideration of US$72.8 million, based on an agreed-upon enterprise value of US$76 million and adjusted for customary items specified in the share purchase agreement. In addition, Aura will make quarterly deferred payments equal to a 3% net smelter return participation interest in MSG’s mineral resources, including mineral reserves. Since 1998, the MSG gold mine has produced over 3 million ounces of gold, with annual production peaking at 193,000 ounces in 2006.
According to AngloGold Ashanti, the mine produced 80,000 ounces of gold in 2024, compared to 86,000 ounces in 2023. Rodrigo Barbosa, President and CEO of Aura Minerals, stated: “AngloGold Ashanti has built a strong reputation for developing and operating world-class mines. The MSG mine is located in one of Brazil’s most renowned greenstone belts. According to AngloGold Ashanti, since its inception in 1998, the mine has produced over 3 million ounces of gold, reaching a peak of 193,000 ounces in 2006—a testament to its tremendous potential.” “Aura is a flexible and agile company with a proven track record of turning around underperforming assets (such as Apoena and Aranzazu), and we have an experienced team. As a result, Aura is ideally positioned to unlock the full potential of this mine. Our team has developed a detailed plan—currently being implemented—to restore production, reduce dilution, enhance efficiency, and invest in expanding resources and reserves—all while adhering to Aura’s 360-degree culture’s highest standards of safety and sustainable development.”
The MSG gold mine operation comprises an open-pit mine and three mechanized underground mines. It has a dedicated metallurgical plant with an annual processing capacity of 1.5 million tons. Bank of America Securities provided Aura with exclusive financial advisory services for this transaction. Demarest Advogados served as Aura’s Brazilian legal counsel, while Gowling WLG (UK) acted as Aura’s UK legal counsel.
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